L Brands (LB) Dec. Comps Increase 1%, Updates Q4 Guidance

L Brands, Inc. (NYSE: LB) reported net sales of $2.516 billion for the five weeks ended Dec. 30, 2017, an increase of 3 percent, compared to net sales of $2.438 billion for the five weeks ended Dec. 31, 2016. Comparable sales increased 1 percent for the five weeks ended Dec. 30, 2017.

The company reported net sales of $11.592 billion for the 48 weeks ended Dec. 30, 2017, compared to net sales of $11.769 billion for the 48 weeks ended Dec. 31, 2016. Comparable sales decreased 4 percent for the 48 weeks ended Dec. 30, 2017. For the 48 weeks ended Dec. 30, 2017, the exit of the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively.

Before the effect of any significant one-time items, including the impact of tax reform legislation, the company expects to report fourth quarter earnings per share of about $2.00, compared to its previous guidance of $1.95 to $2.10.

(Street sees Q4 EPS of $2.05)

To hear further commentary provided on L Brands’ prerecorded December sales message, call 1-866-639-7583 or log onto www.LB.com for an audio replay.

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